Last Updated on November 26, 2022 by
A highly lustrous metal, gold has been one of the most attractive chemical elements with a significant economic value. It has plenty of useful qualities that have made it the most valuable metal throughout history. Gold is a highly precious metal that will never lose its value. To withstand daily wear and tear, gold is often mixed with other elements like silver, nickel, copper, and zinc to enhance its strength and durability. Gold is considered an impressive gratifying and workable metal. Because of these unique characteristics, metals are globally accepted as an exchange for goods and services.
Occurrence of Gold
Gold often occurs in the native state or free elemental form. They may be found in rocks, veins, or alluvial deposits. Alluvial deposits were the major source of metal in the past for Egypt and Mesopotamia. Native gold occurs as extremely small or microscopic particles deep-seated in the rocks along with pyrite or quartz. Talking about its abundance, it is discovered on earth’s crust at about 0.005 ppm. The deposits which bear significant quantities are hydrothermal veins and placer deposits, both consolidated and unconsolidated.
Gold Exploration and Mining
If you have gold jewelry or ornaments, you must be familiar with the fact that they are comparatively more expensive. The reason behind this is the rareness of gold. The locations from where minable gold can be extracted are limited. Gold is extracted with successful mining processes. One thing to note is the advancement in mining technology has stimulated the growth in the gold mining industry. The mining equipment we’ve today is more reliable, reduces waste, and lessens chemical exposure.
Gold exploration is a very significant step for the identification of a minable location. It is a challenging process that demands time, finance, and expertise in disciplines like geology and geography. The process is critical as the chances of discovering new sites that may be profitable are extremely less. There are many companies like Barrick Gold working towards gold exploration, development, and value creation. Collective Mining is an exploration company that is responsible for discovering, permitting, and constructing the largest gold mine in Columbia. Collective Mining Ltd stocks prices are likely to rise due to advancements in exploration processes.
The process involves the whole series of steps for easy evaluation systematically. Different aspects involved in this process are feasibility and non-feasibility research and studies, usage of modern exploration methodologies, and survey.
The process of mining can only begin after the geologists determine the minable location. It is also evaluated what particles are present in the surrounding. The open-pit mining method is used when the location is determined close to the surface. At the same time, the underground method is used when the location is far below the surface.
Gold is a chemical element that is holding its power and value throughout history. Not only physically, but humans are also psychologically interlinked with this metal. Gold is enriched with plentiful useful qualities making it suitable for varied functions. Gold exploration is a major step involved in its mining process.
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